Important Takeaways:
- The Central Bank of Iraq (CBI) banned eight local banks from making US dollar transactions on 4 February, in an attempt to avoid sanctions and US financial restrictions.
- A CBI document lists the banned banks as Ahsur International Bank for Investment, Investment Bank of Iraq, Union Bank of Iraq, Kurdistan International Islamic Bank for Investment and Development, Al-Huda Bank, Al-Janoob Islamic Bank for Investment and Finance, Arabia Islamic Bank, and Hammurabi Commercial Bank.
- “We commend the continued steps taken by the Central Bank of Iraq to protect the Iraqi financial system from abuse, which has led to legitimate Iraqi banks achieving international connectivity through correspondent banking relationships,” a US Treasury Department spokesman said on Sunday.
- The measures come after Iraqi officials met with the US Treasury Department’s top sanctions official Brian Nelson last week.
- The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US sanctions on the Iraqi banking system.
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Important Takeaways:
- Russia calls on BRICS to ditch dollar
- The statement was made at the Russia-China Financial Dialogue forum in Beijing on Monday, where Siluanov met with his Chinese counterpart, Lan Foan.
- The BRICS group of emerging economies – which currently incorporates Brazil, Russia, India, China, and South Africa – has been discussing ways to facilitate payments in local currencies between member countries. The bloc aims to reduce their reliance on the US dollar and the euro for accelerated growth.
- “We need to further develop financial cooperation within the BRICS countries. Here we see opportunities … to develop a payments system that would be independent of the infrastructure, which does not always fully fulfill the goals of individual countries,” Siluanov stated.
- “Therefore, the sustainable development of financial relations and settlements on the BRICS platform is important for us, and we believe that it is necessary to work out such issues, and today we will consider a number of them,” he added.
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Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- Speaking today, US Treasury Secretary Janet Yellen said that there should be an expectation of a slow decline in the US dollar as a reserve currency. Moreover, the statements arrive amidst international de-dollarization efforts employed by a host of countries, including the BRICS economic bloc.
- Yellen had previously stated her expectation that the US dollar would remain unchallenged as the global reserve currency. However, it appears as though recent developments have shifted her stance on the matter.
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Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- China’s digital currency could threaten the U.S. dollar. Should the Fed build its own?
- “China has a digital yuan,” and it’s using it to bully its many trading partners into abandoning the dollar, which threatens to weaken American financial power and drive up the cost of imports.
- This “e-CNY” (CNY is the trading symbol for China’s currency, the yuan), was presented to the world at last year’s Beijing Olympics and has quickly rung up billions in online payments, despite concern the government uses the system to track and bully its own citizens and businesses.
- Without more efficient rival systems from the U.S. or other developed countries, Melchiorre said, China may “force their trading partners into their digital payments system,” replacing the U.S. dollar and threatening the benefits Americans enjoy from the dollar’s popularity.
- “Digital currency is coming,” worldwide, Melchiorre concluded. “I hope we can get our [act] together for the dollar, before it’s too late.”
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Revelations 18:9-11 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore
Important Takeaways:
- Asian nations sign pact to shift away from dollar
- The ASEAN+3 group consists of the ten member states of the Association of Southeast Asian Nations, which are joined by China, Japan, and South Korea.
- Attempts to shift away from the greenback in international trade have been gaining momentum among major economic blocs such as ASEAN and the BRICS group, which consists of Brazil, Russia, India, China, and South Africa.
- The step comes against the backdrop of sweeping sanctions introduced by Western nations against Russia, a major global energy producer and exporter.
- The head of the Indonesian central bank, Perry Warjiyo, said last month that his nation was implementing a shift away from the dollar with countries such as Thailand, Malaysia, China, and Japan. In March, Brazil and China signed an agreement to trade in their own currencies, dropping the greenback as an intermediary.
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Revelations 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- In the Wake of Bank Collapses, Biden Prepares to Seize Control of All U.S. Dollars
- Biden’s been busy resurrecting a government program that was the brainchild of Obama. His plan cannot be stopped even if he loses the 2024 election. You are running out of time to protect yourself.
- These bank collapses have paved the way for the government to take control. They’ve already begun taking advantage with a pilot program called Regulated Liability Network U.S. Pilot.
- It’s designed to weaponize the government’s control over your money.
- We know about this because a former bank insider is risking it all to blow the whistle on what’s going to happen next.
- His name is Louis Navellier. For decades, he has helped the financial elite avoid some of the worst financial bloodbaths in American history like the Black Monday crash in 1987, the dot-com crash in 2000, and even the 2008 financial crisis.
- According to Navellier, the government is going to use the bank collapses as an excuse to grab more control of the financial system.
- As soon as this summer, the government will replace the cash in your account with a digital currency.
- With a digital currency, they will be able to shut off your money whenever they want.
- This disturbing move by Biden could cripple your retirement. You could lose every shred of privacy. If you’re concerned about your money and your freedom, you need to know about this threat.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Economist Zoltan Pozdar Warns of End of the Current US Dollar Dominance
- Back in May 2022, Former Federal Reserve and U.S. Treasury Department official, Zoltan Pozsar, suggested that the current dominance of the US dollar is in question due to future conditions of the globalized economy.
- Zoltan warned that of particular interest is the rise of China, the conflict in Ukraine and the subsequent sanctions, and the rise of cryptocurrency.
- Credit Suisse’s Zoltan Pozsar argues Bretton Woods II crumbled when the G7 countries seized Russia’s foreign exchange reserves. Keeping money inside financial institutions like the IMF was considered risk free. That is clearly no longer the case. Similarly, Bretton Woods I collapsed when Nixon took the US of the gold standard back in 1971 when dollars were convertible to gold at a fixed exchange rate of $35 an ounce. This led to Bretton Woods II, backed by “inside money” or the dollar, which itself is not linked to gold or any other commodity.
- Now the basis of this system, which has operated for the past 50 years, is being called into question. The sanctions on Russia, which showed that reserves accumulated by central banks can simply be taken away, raised the question of “what is money?”
- That question may explain why Pozsar believes a huge shift in the way the world organizes money and reserves is now underway, “creating a “Bretton Woods III backed by outside money,” (gold and other commodities). Including crude oil and bitcoin.
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Revelations 6:3-4 “when he opened the second seal, I heard the second living creature say, “Come!” 4 And out came another horse, bright red. Its rider was permitted to take peace from the earth, so that people should slay one another, and he was given a great sword.
Important Takeaways:
- Russia, China may be preparing new gold-backed currency, but expert assures US dollar ‘safest’ currency today
- China and Russia may be working toward a new gold-backed currency in a move that would aim to dethrone the dollar as the primary reserve currency of the world, but any such currency would unlikely achieve that goal.
- Neither country has officially confirmed plans for such a currency, but China earlier this year started to buy up huge quantities of gold at the same time that Russia was forced off the dollar due to sanctions in response to the invasion of Ukraine. The war also led to the steepest discount on gold prices in years.
- “Two components in that strategy center around the development of a Yuan-based global commodities trading system and efforts by China, in partnership with Russia and other like-minded countries, to challenge dollar dominance by creating a new reserve currency,” Singleton told Fox News Digital.
- Francis Hunt, a trading expert, told Asia Markets that using gold to back the currency would be the best way to build confidence in said currency, and that currency may be digital in nature to give China a greater scrutiny over its citizens’ activity.
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